Bank of America: JPMorgan's target price raised to HK$ 25.9, profit forecast per share for the year adjusted upwards.

Bank of America Securities released a report stating that CICC's net profit in the first half of the year increased by 94% year-on-year to 4.3 billion yuan, exceeding the previous profit forecast by about 9%, with profits rising by 131% to 2.3 billion yuan. The bank expects CICC's underwriting fees in Hong Kong to increase by 86% year-on-year, accounting for over 30% of total underwriting fees, and predicts that the growth momentum of offshore business will remain unchanged in the second half of the year. The bank has raised the group's earnings per share forecast for this year by 2%, raising the target price from 25.7 Hong Kong dollars to 25.9 Hong Kong dollars, and maintaining a "buy" rating.